Gilead Sciences to buy Kite Pharma for $11.9 bil­lion

Chemical Industry Digest - - News & Views -

Gilead

Sciences agreed to pay about $ 11.9 bil­lion to buy Kite Pharma, a move to ex­pand its prod­uct line up in can­cer im­munother­a­pies.

In the cash deal, Gilead will pay Kite share­hold­ers $180.00 per Kite share. Kite de­vel­ops drugs in cell ther­apy, which uses a pa­tient’s own im­mune cells to fight can­cer. Ax­i­cab­ta­gene ciloleu­cel, Kite’s most ad­vanced ther­apy drug cur­rently un­der re­view by the U.S. Food and Drug Ad­min­is­tra­tion, is ex­pected to be the first to mar­ket as a treat­ment for re­frac­tory ag­gres­sive non-Hodgkin lym­phoma, the com­pany said.

“The field of cell ther­apy has ad­vanced very quickly, to the point where the sci­ence and tech­nol­ogy have opened a clear path to­ward a potential cure for pa­tient. Our sim­i­lar cul­tures and his­to­ries of driv­ing rapid in­no­va­tion in order to bring more ef­fec­tive and safer prod­ucts to as many pa­tients as pos­si­ble make this an ex­cel­lent strate­gic fit,” Gilead CEO John Mil­li­gan said.

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